Essex Property Trust (ESS) Revenue — Quarter Ended Mar 31, 2024
Revenue for the reported quarter decreased compared to both the immediately preceding quarter and the same quarter one year ago. The decline reflects a continuation of the downward trend seen in recent periods.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue for the reported quarter decreased compared to both the immediately preceding quarter and the same quarter one year ago. The decline reflects a continuation of the downward trend seen in recent periods.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.7M
Revenue reported for this quarter.
Quarter-over-quarter
-3.2%
Change from the immediately preceding quarter.
Year-over-year
-1.9%
Change from the comparable year-ago quarter.
Trailing four quarters
$11.1M
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2023 | $2.8M | +1.5% |
| Sep 30, 2023 | $2.8M | -3.5% |
| Dec 31, 2023 | $2.8M | -0.8% |
| Mar 31, 2024 | $2.7M | -1.9% |
Revenue performance
The reported revenue moved lower, with a sequential decline from the prior quarter and a year-over-year decrease. The company's trailing twelve-month revenue also reflected the weaker performance.
Quarterly comparison
Compared to the immediately preceding quarter, revenue was lower. When measured against the same quarter one year earlier, revenue also declined.
What to watch
The consistent year-over-year revenue declines across recent quarters warrant monitoring of the company's ability to reverse the trend.